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1979 Rec./Disb./Resolutions & Minutes
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1979 Rec./Disb./Resolutions & Minutes
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<br />~ i.. <br /> <br />officers, except for the manual signature of its <br />duly authorized Authenticating Agent on the <br />reverse side of this bond, all as of June 1, <br />1979.11 <br /> <br />b) Add the following on the reverse side of the bond: <br /> <br />"This Bond is one of the Bonas of the series <br />designated herein issued pursuant to the <br />resolution authorizing its issuance and delivery." <br /> <br />Bank <br /> <br />of <br />As Authenticating Agent <br /> <br />By <br />Its Authorized Officer <br /> <br />The Bonds when fully executed, shall be delivered by the City <br />Clerk-Treasurer to the purchaser thereof upon receipt of the <br />purchase price, and the said purchaser shall not be obligated to <br />see to the proper application thereof. <br /> <br />7. The Bonds shall be payable from the General <br />Obligation Improvement Bonds of 1979 Fund hereby created, and the <br />proceeds of general taxes, if any, hereafter levied and special <br />assessments to be levied for the improvements (the <br />"Improvements") financed by the Bonds are hereby pledged to said <br />fund. If any payment of principal or interest on the Bonas shall <br />become due when there is not sufficient money in said fund to pay <br />the same, the Clerk-Treasurer shall pay such principal or <br />interest from the general fund of the City and such fund may be <br />reimbursed for such advances out of proceeds of assessments for <br />the Improvements when collected. <br /> <br />8. It is hereby determined that the estimated <br />collections of special assessments for the pay~ent of said bonds <br />will produce at least 5% in excess of the amount needed to meet, <br />when due, the principal and interest payments on the Bonds and <br />that no tax levy is needed at this time. The Clerk-Treasurer is <br />directed to file a certified copy of this resolution with the <br />County Auditor of Anoka County and to obta.in the certificate <br />
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